Oil prices fell for the first time in four days on Tuesday, taking a breather, analysts said, after weeks of gains fuelled by a rebound in global demand that is contributing to energy shortages in economies from Europe to Asia.
The S&P 500 fell Monday, as big tech and energy gave up gains amid cautious sentiment on Wall Street ahead of a busy week of market-moving events including the start of quarterly earnings season.
Asia Pacific stocks were down on Tuesday morning, with China potentially widening a crackdown on private industry and continuing concerns about elevated inflation thanks to increasing energy costs.
Gold was down on Monday morning in Asia, as the U.S. Federal Reserve is expected to begin asset tapering as per its timeline despite the disappointing data in the latest U.S. jobs report.
The dollar was up on Monday morning in Asia, hitting a two-and-a-half-year high versus the yen. Figures from the latest U.S. report did not alter market expectations that the U.S. Federal Reserve will begin asset tapering as soon as November 2021.
Oil prices rose on Monday, extending multiweek gains, amid supply restraint from major producers and growing demand for fuels as economies try to recover from the coronavirus pandemic.